Best tenant payment options?

[Todd Powell]

This may date me as my kids say I am too old school but since 2007 I have always had rent due on the 1st but not late if received by the 5th

I am having more and more tenants, especially college aged, asking me if I do direct bank deposit or Venmo, etc

My question is pretty simple, what do you all use to protect yourself, cost effective and secure?

I am getting old fashion checks, money grams, or cashiers checks. But, am I too old school with my check in the mailbox method?

Thanks for all your input. Time to grow at 52 years old !

[Nathan Gesner]

ACH payments are fantastic if you have the software integration. Tenant pays online, it's automatically logged into my software, and I don't have to do a thing.

If your software doesn't handle ACH, then the benefit is lessened because you'll still have to log the payments manually.

Personally, it's worth it to give your tenants every option to pay rent. If they're asking you for it, give it to them.